"Ken Griffin's stockpickers are using an internal chatbot to speed up their processes and find new info at his $71 billion hedge fund. The tool, rolled out earlier this year, helps the firm's legions of fundamental equity investors find hidden details in public filings, summarize research from sell-side banks, track mentions of certain key words from executives, and more. But the human part of these flesh-and-blood traders remains mission critical, according to Umesh Subramanian, Citadel's chief technology officer."
""We are also careful that it's not used in the wrong way." "We don't want PMs offloading their human investment judgment to AI. This is a tool to further accelerate their research process," he said. Citadel is far from the only hedge fund with an internal chat tool. Managers such as Balyasny, Man Group, Viking Global, and more have rolled out AI helpers to assist their investment teams."
Citadel rolled out an internal AI chatbot earlier this year to help fundamental equity investors find hidden details in public filings, summarize sell-side research, and track executive keyword mentions. The tool is optional for employees. Citadel has used AI and machine learning in some form for about a decade. Other hedge funds, including Balyasny, Man Group, and Viking Global, have deployed similar internal chat tools. Most funds continue to keep human decision-making central, with only a few, such as Bridgewater, allowing AI to run strategies without human intervention.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]